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DIVISION 5. CREDIT UNIONS 14000-16906›CHAPTER 4. Management and Operations 14400-14768›ARTICLE 7. Reserves 14700-14703

§ 14703

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles. The commissioner may order the credit union to increase the amount of its allowance-for-loan-losses account if the commissioner finds that the amount of the account is not adequate.

(Amended by Stats. 2004, Ch. 324, Sec. 2. Effective January 1, 2005.)

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California Financial Code

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